Silver prices soar to new record high of ₹2.4 lakh/kg in Delhi, up 168% YTD; gold at ₹1.41 lakh/10 gram

Silver prices jumped for the fifth consecutive session on Monday, December 30, rising by ₹3,650 to ₹2,40,000 per kg in Delhi due to persistent buying by traders, according to the All India Sarafa Association. The precious metal ended at ₹2,36,350 per kg on Friday.

Since the start of this year, the white metal has soared 167.55%, increasing by as much as ₹1,50,300 per kg from ₹89,700 per kg recorded on December 31, 2024.

Meanwhile, gold of 99.9% purity (24K) retreated from its record high of ₹1,42,300 per 10 gram, declining by ₹500 to ₹1,41,800 per 10 gram on Monday. Gold has risen by over 80% so far this year.

Gold traded weakly on Monday as traders booked profits after the yellow metal in the international markets slipped nearly $70 to $4,463 per ounce amid high volatility, a PTI report quoted Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, as saying.

Gold and silver have jumped significantly this year due to global dynamics, geopolitical uncertainties, market volatility, and trade war concerns. Silver has also risen primarily due to its rising industrial demand in crucial sectors like EV and solar, and supply shortages in global markets.

International markets

In the international markets, spot gold was trading lower by $69.67, or 1.54%, at $4,462.96 per ounce. When compared to $4,462.96 per ounce recorded on December 31, 2024, gold prices are up over 71% currently.

Spot silver also retreated from lifetime highs in the overseas markets to trade lower by $4.06, or 5.13%, to $75.09 per ounce, pressured by profit-taking after an end-of-year rally. The white metal touched a record high of $83.97 per ounce last week.

"The broader trend remains volatile as markets reassess positions after the recent sharp rally. This week, the Federal Reserve's meeting minutes will be a key trigger, while the US holiday period could keep trading volumes relatively thin," Trivedi said.

"In 2025, gold and silver reached record highs, driven by a potent blend of macroeconomic shifts, industrial demand, and structural supply tightness,” the PTI report quoted Hareesh V, Head of Commodity Research, Geojit Investments Ltd, as saying.

He added that commodities have arguably become the standout outperformer while equities continue to deliver modest gains; it's the surge in raw materials that's capturing attention.

"This divergence reflects rising demand for tangible assets amid inflation concerns, resilient industrial consumption post-Covid, and mounting geopolitical risks, factors that have boosted commodities' appeal relative to paper assets," Hareesh V said.

On the market outlook, he said that in 2026 and beyond, the bullish trend in commodities appears poised to persist, driven by enduring structural dynamics across multiple sectors.